The consequence is that, unless all your electricity generation and raw resource extraction needed for the process has basically zero emissions, it's probably better to just use regular fuel. Burning fossil fuels to create fuel that you then burn has more CO2 emissions than just burning fossil fuels once (since you need way less fossil fuel in the first place). And the US grid is, right now, not in path of not burning fossil fuels. So the idea of pulling CO2 from the atmosphere and be carbon neutral doesn't seem plausible.
That's my take, anyway.